MAM
Vijeeth Shetty to head Tonic Media’s new initiatives portfolio
MUMBAI: Tonic Media has roped in Vijeeth Shetty as its new initiatives head. In his new role, Shetty will lead new initiatives at Tonic that includes InvenTonic, a dedicated practice that partners start-ups and venture capital funds to accelerate growth.
Under his aegis, InvenTonic has already commenced its journey by adding three new clients – the first one being digital media duties of the search and discovery platform Xploree, along with Flexiport and BillBachao.
Shetty will also lend his expertise on strengthening the digital research cell, which aims to fill the void of a digitally driven research agency. He comes with a decade of experience in digital media with stints at agencies like GroupM, Pinstorm and a short stint at Angel Broking.
Having worked on several award-winning campaigns, his core areas of expertise include digital media, search, mobile and consumer research.
Shetty said, “It’s an extended adventure for me. I’m quite excited at the prospect of bringing a ‘limitless possibilities’ approach to strategic planning for clients – having traversed the entire spectrum myself. The digital business is undergoing tectonic shifts and the challenge is to master the change for business success. My focus will be on guiding our clients and helm our talent to effectively navigate these changing trends to our advantage.”
Tonic Media co-founder and CEO Chetan Asher added, “I am delighted to welcome Vijeeth to Tonic at this strategic moment in our journey. As our business gets more dynamic and interconnected every day, we are constantly looking for leaders who can guide our new talent and enable a better, more integrated creative digital strategy for our clients. And Vijeeth seems the right person for it.”
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
